Peregrine Asset Advisers Inc. Purchases New Holdings in Novartis AG (NVS)
Peregrine Asset Advisers Inc. purchased a new stake in Novartis AG (NYSE:NVS) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 3,300 shares of the company’s stock, valued at approximately $283,000.
Other institutional investors have also recently bought and sold shares of the company. Janus Henderson Group PLC lifted its stake in Novartis AG by 42,797.5% in the second quarter. Janus Henderson Group PLC now owns 1,914,516 shares of the company’s stock valued at $159,821,000 after buying an additional 1,910,053 shares during the period. Parnassus Investments CA lifted its stake in Novartis AG by 18.5% in the third quarter. Parnassus Investments CA now owns 9,447,817 shares of the company’s stock valued at $811,095,000 after buying an additional 1,477,168 shares during the period. FMR LLC lifted its stake in Novartis AG by 172.1% in the second quarter. FMR LLC now owns 2,294,782 shares of the company’s stock valued at $191,546,000 after buying an additional 1,451,441 shares during the period. Principal Financial Group Inc. acquired a new position in Novartis AG in the second quarter valued at about $71,606,000. Finally, BlackRock Inc. lifted its stake in Novartis AG by 25.3% in the second quarter. BlackRock Inc. now owns 3,549,783 shares of the company’s stock valued at $296,299,000 after buying an additional 717,186 shares during the period. Institutional investors and hedge funds own 10.74% of the company’s stock.
Novartis AG (NYSE:NVS) traded up $0.20 during midday trading on Friday, hitting $84.48. The stock had a trading volume of 1,540,300 shares, compared to its average volume of 2,325,532. The firm has a market capitalization of $199,845.47, a price-to-earnings ratio of 17.78, a P/E/G ratio of 2.69 and a beta of 0.72. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.81 and a current ratio of 1.08. Novartis AG has a 52 week low of $66.93 and a 52 week high of $86.90.
Novartis AG (NYSE:NVS) last released its quarterly earnings results on Tuesday, October 24th. The company reported $1.29 EPS for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.04. The company had revenue of $12.41 billion for the quarter, compared to analyst estimates of $12.21 billion. Novartis AG had a return on equity of 15.77% and a net margin of 13.73%. Novartis AG’s revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.23 earnings per share. analysts anticipate that Novartis AG will post 4.75 EPS for the current fiscal year.
Several equities analysts have weighed in on the company. J P Morgan Chase & Co reissued a “neutral” rating on shares of Novartis AG in a research note on Tuesday, September 5th. BidaskClub raised Novartis AG from a “sell” rating to a “hold” rating in a research note on Saturday, August 5th. Cowen Inc set a $90.00 target price on Novartis AG and gave the company a “hold” rating in a research note on Wednesday, August 9th. Leerink Swann increased their target price on Novartis AG from $89.00 to $91.00 and gave the company a “market perform” rating in a research note on Monday, October 23rd. Finally, Zacks Investment Research lowered Novartis AG from a “buy” rating to a “hold” rating in a research note on Friday, October 6th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $85.32.
About Novartis AG
Novartis AG is a holding company, which provides healthcare solutions. The Company is engaged in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals. The Company’s segments include Innovative Medicines, Sandoz, Alcon and Corporate activities.
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